Oakrum Pharma and Biophore Announce Product Development and Commercialization Partnership
SAINT LOUIS, MO., April 22, 2019 (GLOBE NEWSWIRE) -- Oakrum Pharma, LLC (Oakrum) announced today that it has entered into an agreement with Biophore India Pharmaceuticals Pvt. Ltd. (Biophore) to develop and manufacture two prescription generic pharmaceutical products that are intended to be commercialized in the U.S. under the Oakrum label. It is anticipated that both products will be sold through the specialty distribution market channel. The total market for the products in the U.S. exceeded $150 million in aggregate sales for the 12-month period ending December 31, 2018 according to Bloomberg® data.
Marco Polizzi, CEO of Oakrum, stated, “The partnership with Biophore will provide a vertical integrated solution to our growing product development pipeline. Oakrum’s vision to focus on the underserved patient populations is in direct alignment with that of Biophore’s. Biophore provides unique API and finished dosage form product development capabilities which are expected to further contribute to Oakrum’s objective of bringing more affordable specialty and rare disease prescription products to market.”
Dr. Jagadeesh Rangisetty, CEO of Biophore, stated, “We are partnering with Oakrum on these products because of our aligned focus to serve niche product markets and because of their focus and commercial expertise within the specialty product marketplace.” Biophore has filed over 40 DMF’s over the past three years and plans to continue to expand its API and FDF product development portfolio with experienced commercialization partners like Oakrum.
About Oakrum Pharma, LLC
Oakrum Pharma, LLC is a privately-owned biopharmaceutical company focusing on development and commercialization of affordable drug therapies for rare diseases and specialty products with significant unmet needs. For more information, visit www.oakrumpharma.com.
About Biophore India Pharmaceuticals Pvt. Ltd..
Biophore, an established pharmaceutical company, is engaged in the development and manufacturing of niche pharmaceutical products for the generic industry. Within a decade since inception in 2007, Biophore has emerged as a trusted partner in the generic industry across US, Europe and other regulated markets. For more information, visit www.Biophore.com.
Statements in this press release that are not historical facts, including statements about future expectations of Oakrum are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Oakrum intends that such forward-looking statements be subject to the safe harbors created thereby. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Oakrum’s actual results to be materially different from its historical results or from any results expressed or implied by said statements. Oakrum’s actual results may differ materially from those discussed in the forward-looking statements for reasons including, but not limited to, results of clinical trials, regulatory actions and the need for regulatory approvals, Oakrum’s ability to fund development of its technology and to successfully complete clinical trials, the length of time and costs required to complete clinical trials and to submit applications for regulatory approvals, products developed by competing companies, commercial acceptance of Oakrum’s products, and other factors. Oakrum undertakes no responsibility and is not responsible for updating events occurring after the date of this press release.